Can I retire at age 58 with 1,180,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$97,443$96,575$95,728$94,902$94,095$92,120
2 years$48,239$47,341$46,470$45,626$44,807$42,826
3 years$31,840$30,938$30,069$29,233$28,427$26,503
4 years$23,642$22,743$21,883$21,061$20,275$18,422
5 years$18,725$17,830$16,982$16,177$15,413$13,636
6 years$15,447$14,560$13,724$12,937$12,195$10,497
7 years$13,107$12,227$11,405$10,636$9,918$8,298
8 years$11,353$10,481$9,672$8,922$8,228$6,686
9 years$9,989$9,126$8,331$7,600$6,929$5,465
10 years$8,899$8,044$7,263$6,551$5,904$4,515
11 years$8,008$7,161$6,394$5,701$5,078$3,762
12 years$7,265$6,427$5,675$5,001$4,400$3,157
13 years$6,638$5,808$5,070$4,415$3,837$2,663
14 years$6,100$5,280$4,555$3,919$3,364$2,257
15 years$5,635$4,823$4,113$3,495$2,962$1,920
16 years$5,228$4,425$3,729$3,130$2,617$1,639
17 years$4,869$4,075$3,393$2,812$2,321$1,402
18 years$4,551$3,766$3,097$2,534$2,064$1,202
19 years$4,266$3,490$2,836$2,290$1,839$1,033
20 years$4,010$3,243$2,602$2,074$1,643$889
21 years$3,779$3,021$2,394$1,882$1,470$766
22 years$3,569$2,820$2,206$1,711$1,318$660
23 years$3,378$2,637$2,037$1,558$1,183$570
24 years$3,203$2,471$1,884$1,421$1,063$493
25 years$3,042$2,319$1,745$1,298$957$426
26 years$2,894$2,179$1,618$1,187$862$369
27 years$2,757$2,051$1,503$1,086$777$319
28 years$2,630$1,933$1,397$995$701$277
29 years$2,512$1,823$1,300$913$633$240
30 years$2,402$1,722$1,211$838$572$208
31 years$2,299$1,628$1,129$769$517$180
32 years$2,203$1,540$1,053$707$468$156
33 years$2,113$1,459$983$650$423$136
34 years$2,029$1,382$919$598$383$118
35 years$1,949$1,311$859$551$347$102
36 years$1,874$1,245$804$507$315$89
37 years$1,803$1,182$752$467$285$77
38 years$1,736$1,123$704$431$258$67
39 years$1,673$1,068$660$397$234$58
40 years$1,613$1,016$619$366$213$50
41 years$1,556$967$580$338$193$44
42 years$1,502$921$544$312$175$38
43 years$1,451$878$511$288$159$33
44 years$1,402$837$479$266$144$29
45 years$1,355$798$450$246$131$25
46 years$1,311$761$423$227$119$22
47 years$1,269$726$397$210$108$19
48 years$1,228$693$373$194$98$16
49 years$1,189$662$351$179$89$14
50 years$1,152$633$330$165$81$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,180,000, adding $6,637 every year, while hoping to spend $36,363 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 79/8/13 Blend
57$1,180,000$1,180,000$1,180,000$1,180,000
58$1,307,206$1,244,666$1,226,376$1,406,641
59$1,401,851$1,266,965$1,228,770$1,495,276
60$1,504,931$1,289,137$1,230,025$1,587,154
61$1,617,268$1,311,139$1,230,065$1,686,916
62$1,739,767$1,332,923$1,228,809$1,795,335
63$1,873,423$1,354,436$1,226,174$1,913,264
64$2,019,333$1,375,623$1,222,072$2,041,639
65$2,178,702$1,396,426$1,216,408$2,181,494
66$2,352,858$1,416,780$1,209,087$2,333,966
67$2,543,265$1,436,617$1,200,006$2,500,309
68$2,751,531$1,455,864$1,189,059$2,681,904
69$2,979,429$1,474,443$1,176,134$2,880,274
70$3,228,910$1,492,270$1,161,115$3,097,093
71$3,502,125$1,509,257$1,143,877$3,334,210
72$3,801,439$1,525,308$1,124,295$3,593,660
73$4,129,459$1,540,322$1,102,232$3,877,686
74$4,489,056$1,554,190$1,077,549$4,188,758
75$4,883,391$1,566,796$1,050,098$4,529,601
76$5,315,946$1,578,019$1,019,726$4,903,214
77$5,790,558$1,587,727$986,272$5,312,904
78$6,311,450$1,595,780$949,567$5,762,316
79$6,883,275$1,602,031$909,435$6,255,464
80$7,511,161$1,606,323$865,693$6,796,773
81$8,200,754$1,608,487$818,148$7,391,120
82$8,958,274$1,608,346$766,599$8,043,878
83$9,790,574$1,605,710$710,836$8,760,970
84$10,705,202$1,600,381$650,639$9,548,920
85$11,710,477$1,592,143$585,780$10,414,922
86$12,815,560$1,580,773$516,018$11,366,901
87$14,030,546$1,566,030$441,103$12,413,591
88$15,366,556$1,547,659$360,775$13,564,619
89$16,835,844$1,525,393$274,759$14,830,592
90$18,451,908$1,498,946$182,772$16,223,201
91$20,229,624$1,468,015$84,516$17,755,331
92$22,185,378$1,432,281$0$19,441,180
93$24,337,228$1,391,404$0$21,299,218
94$26,705,069$1,345,026$0$23,356,561
95$29,310,820$1,292,767$0$25,620,526
96$32,178,636$1,234,225$0$28,112,107
97$35,335,130$1,168,975$0$30,854,437
98$38,809,626$1,096,567$0$33,873,007
99$42,634,435$1,016,526$0$37,195,906
100$46,845,161$928,349$0$40,854,089